Catholic University gets first installment of $4M nursing grant

William Conway Jr., co-founder of private equity firm The Carlyle Group LP, and his wife, Joanne, are helping Catholic University of America address the nation's nursing shortage with a grant to fund nursing scholarships.

The Bedford Falls Foundation Charitable Trust, established by the Conways, has committed to a $4 million grant to fund four-year scholarships for nursing students who will be encouraged to take jobs in the Washington area after graduation.

Catholic University said it has received the first $1 million installment of the grant, which will be followed by equal installments over the next three years.

Qualified students with demonstrated financial needs are eligible for the William and Joanne Conway Nursing Scholars Program.

The Conways "have created a wonderful opportunity and a path to success for young people who want to become nurses," said Catholic University President John Garvey. "It's safe to say that St. Agatha now has competition for the role of patron saint of nurses."

The total number of job openings for nurses nationwide will increase to 1.2 million by 2020, a 26 percent rise in 10 years, Catholic University said, citing the U.S. Bureau of Labor Statistics.